weekly crypto market report 8 april 2024

Weekly Crypto Market Reports: April 8, 2024

In the crypto market report prepared by the ICRYPEX Research team and covering the week of April 8 – 15, we compiled the current developments regarding crypto assets, price movements of crypto assets and macroeconomy.

You can take a look at the general flow of this report below and access all the developments that took place in the 7-day period at Weekly Crypto Market Reports: April 8, 2024.

Overview of April 8 Weekly Crypto Market Report

Last week, Bitcoin closed the week with a 5% loss in value, especially due to the selling pressure on Friday and Saturday. Geopolitical risks were especially effective in this process. With the decline, Bitcoin tested the $60,600 level as the bottom and then received an upward reaction. The total cryptocurrency market value reached 2.5 trillion dollars. Additionally, Bitcoin dominance has moved up to 57%, the highest level in the last three years. Approximately 15% decreases were observed in the top 20 cryptocurrencies by market value. Ethereum, on the other hand, received an upward reaction again while dropping a needle below the $ 3000 level during this downward movement.

Looking at ETF performances, GBTC outflows were at the level of 303 million and 154 million dollars at the beginning of the week, especially on Monday and Tuesday, and decreased to 17 million dollars on Wednesday. Due to the high outflow seen at the beginning of the week, total outflows of 223 and 18 million dollars were realized. IBIT, which has shown a strong performance, experienced money inflows every day last week. In the case of IBIT, the total money inflow reached 15 billion dollars and a new record was broken.

Those who want to get more comprehensive information about the week covering April 8 – 15 can review Weekly Crypto Market Reports: April 8, 2024.

Risk Disclosure
Cryptocurrency assets have higher volatility compared to traditional financial instruments and involve various unique risks. There is no guarantee or commitment regarding the prices at which transactions will be executed. Therefore, before deciding to trade on ICRYPEX, you must fully understand, assess, and consider all potential risks you may encounter. The opinions, news, research, analyses, prices, or other information provided on ICRYPEX's official website, trading application, or social media platforms are general market commentary and do not constitute investment advice. ICRYPEX is not responsible for any losses incurred as a result of investments made based on such information.

What is Swipe Token (SXP)?
Swipe Token (SXP) is the native utility token that powers the Swipe ecosystem, a platform built to bridge the gap between cryptocurrencies and traditional finance. With Swipe, users can spend crypto as easily as fiat through crypto debit cards, digital wallets, and payment APIs. At the core of this system is the SXP token, which fuels transactions, offers staking rewards, and enables decentralized...
What Is TRON (TRX) and How Does It Work?
TRON (TRX) is a blockchain-based decentralized platform that aims to revolutionize content sharing, data ownership, and the digital entertainment industry. Initially founded by Justin Sun in 2017, TRON set out to eliminate intermediaries by allowing creators to distribute content directly to consumers via the blockchain. Over the years, it has grown into one of the leading blockchain ecosystems, boasting...
House of Representatives to Launch “Crypto Week” – Lummis’ New Bill for Crypto Tax Regulations
House of Representatives to Launch “Crypto Week” The US House of Representatives has declared the week of July 14 as “Crypto Week.” This week, the stablecoin bill GENIUS, the market structuring act for digital assets, and bills on central bank digital currencies (CBDC) will be discussed. The goal is to pass the House of Representatives and approve the stablecoin regulations, which are expected to reach...
What Is RWA in Crypto?
RWA means Real World Asset in crypto. It refers to physical or traditional financial assets made digital and available on blockchains. Imagine owning part of a building, a bond or a piece of artwork through crypto tokens. That simple step merges real-world value with DeFi innovation. These assets have become a hot topic in DeFi because they bring fresh use cases to the space. They let you access things...
Solana Staking ETF, a First in the US, Now Available for Trading - Ripple Applies for US Banking License
Solana Staking ETF, First in the US, Opens for Trading The REX-Osprey Solana + Staking ETF (SSK), developed in collaboration with REX Shares and Osprey Funds, has become the first crypto staking ETF to start trading in the US. The fund, which started trading at $ 25.47 on the Cboe exchange, offers investors both exposure to the Solana (SOL) price and the opportunity to earn staking returns on the Solana...


Create an account

Now create an account where you can use your knowledge.